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Jay Pharoah's President Obama said that "from here on out, we do it my way.”

"Saturday Night Live" wasted no time addressing Tuesday’s reelection of President Barack Obama.

The show began with Mitt Romney (Jason Sudeikis) out on the balcony of his house on election night, drinking away his sorrows with carton after carton of milk. When "Karl Rove" comes out to join him Romney promptly throws him over the balcony. Three of Romney's sons (on "SNL" they're all identical) and his wife, Ann, try to get Romney to come inside by mentioning what their guests were doing at the party.

Donald Trump was “acting racist" and Paul Ryan was performing feats of strength.

“I'd like to see him carry Wisconsin,” Sudeikis said sarcastically.

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Later on Weekend Update, Seth Meyers also focused on the election.

“According to poll data, Barack Obama's win was largely due to his popularity among college students and the unemployed,” Meyers said. “So basically Obama became president the same way Budweiser the became king of beers.”

Barack Obama (Jay Pharoah) soon joined the segment and talked about the fiscal cliff issue of spending cuts and tax hikes looming in January.

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"Everyone is talking about this fiscal cliff. Well, guess what. The Bush tax cuts were due to expire at the end of the year," he said. "Republicans thought they would be extended when Mitt Romney was president. Well, to quote Wesley Snipes, always bet on black."

After House Speaker John Boehner said earlier this week he wouldn’t agree to raising tax rates on the wealthy, Pharoah's Obama said, “You want to get unreasonable? Lets get unreasonable.”

“How about we start here. The military? Gone," he said. "If you want to go to Iran, you’ll have to send in Ted Nugent.”

Pharoah’s Obama thoroughly enjoyed defeating the Republicans and said now that he's not facing reelection he's got "nothing to lose."

“Republicans. What happened”? Pharoah said. “I mean, eight percent unemployment, five-dollar gas. I even gave you a one-debate head start… but you still couldn’t take me out."

Pharoah added that "from here on out, we do it my way,” but he wasn’t exactly enthralled about the next four years.

“I want to assure the American people that I learned a lot in my first term and I’m ready to apply it to my second,” he said. “Mainly, that this is a terrible job and I hate it. But we’re going to get through it together.”

In another segment Meyers also had "Drunk Uncle" (Bobby Moynihan) share his disdain for the country’s current political situation.